A man sold his property to buy Bitcoin when it was $900: He was afraid of losing it after getting rich, so he stored it in six countries

Original title: A man sold his property to buy Bitcoin when it was $900: He was afraid of losing it after getting rich, so he kept it in six countries Source: Fast Technology

According to foreign media reports, in 2017, Didi Taihuttu sold all his assets and bought Bitcoin when the Bitcoin trading price was around $900. Now that he has made huge profits, he has stored these cryptocurrencies in six countries on four continents for safety. It is reported that Didi Taihuttu's family is from the Netherlands. In addition to his wife, he has three children. Currently, his cryptocurrency has two storage locations in Europe and Asia, one in South America, and the last one is in Australia in Oceania.

According to Didi Taihuttu, although there are many ways to store cryptocurrencies, such as exchanges like Coinbase and PayPal, for safety reasons, he chose to store most of his cryptocurrencies in a safer cold wallet.

Cryptocurrency wallets are tools for storing and using cryptocurrencies. They are generally divided into two types: cold wallets and hot wallets. A cold wallet is a wallet that is not connected to the Internet, also known as an offline wallet; a hot wallet is a wallet that stays online, also known as an online wallet. Since a cold wallet is not connected to the Internet, it is safer than a hot wallet.

Specifically, Didi Taihuttu stored 26% of his cryptocurrencies in hot wallets to make risky investments, such as selling when the price of the Dow is high and buying when the price is low.

The remaining 74% of cryptocurrencies, including Bitcoin, Ethereum and Litecoin, are stored in cold wallets. However, Didi Taihuttu refused to disclose the specific amount.

Didi Taihuttu said that cryptocurrencies are virtual things in the first place. If you store them on other platforms, if the platform goes bankrupt or is stolen or confiscated by regulators one day, you will be left with nothing.

Therefore, using cold wallets to store cryptocurrencies in different places is the safest method. If he needs to use these cryptocurrencies including those in cold wallets urgently, he can fly to the nearest storage location.